Brings Total Financing Commitments Announced Today to $600 Million
New Commitments Expected To Fund Operations Through Third Quarter of 2009

VALENCIA, Calif., Oct. 2 /PRNewswire-FirstCall/ -- MannKind Corporation
(Nasdaq: MNKD) announced today that it has entered into a new loan
arrangement with Alfred E. Mann, its principal stockholder, Chief Executive
Officer and Chairman of the Board of Directors, providing for $350 million
in credit available until December 31, 2009. The loan can be drawn down in
certain amounts and during specific times. Advances bear interest at the
rate of LIBOR plus 3%, are unsecured, and rank pari passu with the
Company's other senior unsecured debt. There are no warrants or other
consideration in connection with the loan arrangement. MannKind will be
required to repay any borrowings under this arrangement on December 31,
2011. At any time after January 1, 2010, Mr. Mann can require MannKind to
prepay up to $200 million in advances that have been outstanding for at
least 12 months. This new loan agreement replaces the $150 million loan
agreement with Mr. Mann that was previously in place.

"This arrangement together with the registered direct offerings of
common stock also announced today represent commitments of $600 million,
which we believe will enable us to continue to advance our Technosphere(R)
Insulin program and fund our other operations through the third quarter of
2009," stated Hakan Edstrom, President and Chief Operating Officer. "These
funds ensure that we will be able to support our operations beyond the
filing of our NDA for Technosphere Insulin -- which is still scheduled for
December 2008 -- and the subsequent pre-approval inspection of our
manufacturing facility in Danbury. We will also be able to continue
pipeline expansion activities through this period. As well, we will
continue to seek a partner for Technosphere Insulin and will explore other
financing options."

"We continue to be impressed with the unique benefits of Technosphere
Insulin, which we believe controls prandial glucose excursions better than
any other known therapy -- and glucose excursions are becoming recognized
by the experts as the major cause of diabetic complications. I so strongly
believe in the significance of Technosphere Insulin that I have extended
this $350 million commitment to MannKind in addition to the $566 million
that I have invested in MannKind as of today. I am proud of what our team
is accomplishing and am committed to seeing this through," said Mr. Mann.

About MannKind Corporation

MannKind Corporation (Nasdaq: MNKD) focuses on the discovery,
development and commercialization of therapeutic products for patients with
diseases such as diabetes and cancer. Its lead product, the Technosphere
Insulin System, is currently in Phase 3 clinical trials in the United
States, Europe and Latin America to study its safety and efficacy in the
treatment of diabetes. For more information on MannKind Corporation and its
technology, visit http://www.mannkindcorp.com.

Forward-Looking Statements

This press release contains forward-looking statements, including
statements related to MannKind's new loan arrangement, as well as
MannKind's clinical trials and product candidates. Words such as
"believes", "anticipates", "plans", "expects", "intend", "will", "goal",
"potential" and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are based upon
MannKind's current expectations and involve risks and uncertainties. Actual
results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of these risks
and uncertainties, which include, without limitation, risks related to
MannKind's ability to repay any borrowings under the arrangement, the
progress, timing and results of clinical trials, difficulties or delays in
seeking or obtaining regulatory approval, MannKind's ability to enter into
any collaborations or strategic partnerships, MannKind's ability to raise
additional financing and other risks detailed in MannKind's filings with
the Securities and Exchange Commission, including the Annual Report on Form
10-K for the year ended December 31, 2006 and periodic reports on Form 10-Q
and Form 8-K. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. All forward-looking statements are qualified in their entirety by
this cautionary statement, and MannKind undertakes no obligation to revise
or update any forward-looking statements to reflect events or circumstances
after the date of this news release.

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